Atlanta Fed GDPNow 3Q growth estimate remains unchanged at 4.9%

The Atlanta Fed GDPNow growth estimate for 3Q models 4.9%. That is unchanged from September 29. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9 percent on October 2, unchanged from September 29 after rounding. After this morning’s data releases from the US Census Bureau and the Institute for Supply Management, slight declines in the model’s nowcasts of real personal consumption expenditures growth and real gross private domestic investment growth were offset by an increase in the model’s nowcast of real government expenditures growth.

The next update will be on Thursday, October 5

This article was written by Greg Michalowski at Source